DSP Investment Managers to Acquire 10% Stake in Equitas Small Finance Bank

DSP Funding Managers Non-public Ltd (DSPIM) will purchase a just about 10 in keeping with cent stake in Equitas Small Finance Financial institution for an undisclosed quantity, following approval from the Reserve Financial institution of India. The financial institution has gained an intimation from the RBI on November 16, 2022, that it has granted approval to DSP Funding Managers Non-public Ltd (DSPIM) to procure as much as 9.99 in keeping with cent of the paid-up fairness capital of the financial institution throughout the schemes of DSP Mutual Fund (DSPMF), Equitas SFB mentioned in a regulatory submitting on Thursday.

The proposed acquisition of stocks by means of DSPIM could be consequent to the scheme of amalgamation of Equitas Holdings (keeping corporate) with the financial institution, it mentioned. In Would possibly this yr, Equitas Holdings and Equitas Small Finance Financial institution (SFB) had been licensed by means of their respective forums for his or her merger.

The merger is aimed to satisfy the RBI’s licensing prerequisites to carry down the shareholding of the keeping corporate to 40 in keeping with cent inside a length of 5 years from the date of graduation of commercial of the financial institution, which finished by means of September 4, 2021.

As of September 30, 2022, Equitas Holdings has a 74.50 in keeping with cent stake in its SFB subsidiary.

Stocks of Equitas SFB traded up 5.53 in keeping with cent at Rs 53.40 apiece on BSE. Equitas Holdings scrip rose 5.66 in keeping with cent to Rs 105.40.

Learn the entire Newest Industry Information right here